SN Power eyes hydro development in Latin America, Asia

Recent transactions by SN Power will better allow it to focus on hydroelectric power development, the Oslo-based company said.

A pending sale will see SN Power sell 100% of its interests in Norvind S.A. -- owner of the 46-MW Totoral Wind Farm in Chile -- to Brazilian energy company, Latin America Power (LAP).

"Within the process of asset portfolio restructuring of SN Power in Chile, the sale of Totoral allows us to focus in pursuing new investment alternatives in hydropower projects in the region," CEO Torger Lien said.

SN Power has also recently announced that it has bought Statkraft's 20% ownership share in the 500-MW Theun hydropower project in Laos from the Theun Hinboun Power Company (THPC).

The investment is SN Power's first in Laos, and represents an important step in the group's growth, Lien said.

"The acquisition of 20% of the THPC plant is a significant event for SN Power," Lien said. "With our presence in Laos and potential investment opportunities in Vietnam, we are well positioned in the Greater Mekong sub-region. The vast hydropower potential and strong growth in energy demand in the region may provide interesting commercial opportunities in the years to come."